Mobile App Monetization Help

kylekangarookylekangaroo subscriber Posts: 2
What I have done: Created a free mobile app for ios and android that allows users to download the free app to win scholarships through the app. Scholarships can be used to help pay for school/college/courses.
What I have: I get approx 10-20 new users daily to app that sign up via email address to gain access to the app, countries are worldwide
What I WANT:: WHAT I need help with is how to monetize better the app so that I can make more revenue and offer more scholarships through the app.
Any advice??????
Thanks!

Comments

  • Ryan O'BlenessRyan O'Bleness Birmingham, Mich. administrator Posts: 1,124 Site Admin
    In my opinion, the best ways to monetize apps are to have advertisers, have in-app purchases, secure partnerships or to have a "freemium" model with member-only access.

    I assume you already have some kind of advertising/affiliate program, so I won't get into that too much. But that likely doesn't generate a ton of revenue, anyways.

    You mention the app is free to download, and you collect email addresses. Since the app itself is free to download, you will want to consider having "extras" in your app that you can charge a small fee for. With your particular niche of college scholarships, I am not positive what kind of in-app purchases you'll be able to offer, or the legality of it. One idea might be charging $1 for a list of exclusive scholarships, or best schools to attend. Again, you'll have to do your due diligence, especially on the legal side of things because I am not positive how it work.s

    Similarly, having a completely different version of the app, or a gated section for members only, is another way to monetize. This means that paid members have access to the best parts of your app, while free users do not. You'll likely want to center this around great offers and strong pieces of content. For example, paid members may have access to a document written by an expert on winning scholarships, such as "10 things to make sure you do when applying for scholarships,"or something along those lines. Or maybe they have access to a special community forum where they can interact with experts. Paid members would essentially have unlimited access to all of the in-app purchases that free users can buy one time. Of course, this would take much more on the development side from you, and will likely cost more upfront. You also have to make sure, though, that there is a strong balance between paid features and free features.

    If you can secure a partnership with another company or brand that has a similar goal and customer base as you, it will help bring more users in. The partnership will likely bring in more advertisers and other revenue avenues as well. If you are able to secure a sponsorship, that's even better because most of your operations will be paid for with the condition that you mention that company and brand in your title and throughout the app. Getting sponsored is not easy, though.

    I am definitely not an expert in this field, but these are my ideas!
    Ryan O'Bleness
    Community Manager
    StartupNation, LLC
  • bharat.nimblechappsbharat.nimblechapps Ahmedabadsubscriber Posts: 186 Silver Level Member
    Customize your app and add in-app purchase options and little advertisement sections.
    I am online marketer at Nimblechapps Web Development Company | Mobile Game Development Company
  • BerthaWoodsBerthaWoods subscriber Posts: 1
    Hello Guys

    any app development companies and app entrepreneurs are in search for better ROI through apps. App monetization is incredibly important in this regard. To make a new mobile app and market it is not easy these days. Monetizing the app is a dream come true for any app developer and entrepreneur in this saturated market where free apps in lot more demand than paid apps.
  • SmithJohnesSmithJohnes subscriber Posts: 45 Bronze Level Member
    edited June 17

    App monetization is applying methods of making money from an app you develop, when you don’t actually charge people to download it.

    Because for an app monetization strategy to work, people actually have to use the app. And keep using it.

    Numbers = profit.

    Not charging for the download is an excellent way of indirectly increasing profit.

    Six of the most popular ideas to increase profit via apps:Email marketing, In-app advertising, Push notifications, In-app buying, Free to premium, Subscription-based.

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